Whenever there are investors visiting Anguilla, or any encouraging word about new investment or development in our island, one sometimes tends to get overly excited and even goose bumps. This is understandable from the viewpoint that we are all dying to see or hear about new projects – and to experience the great benefits and impact a little bit of prosperity and job creation would have for our beloved island and people particularly in these days of economic and financial lean. We recall those years of plenty and prosperity when our Government was able to flash money around – even cutting and surfacing roads in some bush areas which critics said humorously, but quite wrongly, were only for goats.
The times being referred to above were when there was a construction boom on the island with the building of hotels, guesthouses and villas; when members of our diaspora were being invited back home for jobs; when Caribbean nationals in large numbers flocked to Anguilla; when the volume of tourism projects were so great that moratoriums had to be put in place to control foreign investment; and yes: when transhipment money was flourishing in Government coffers. All of us are aware that economic booms can be sporadic either due to impacting international financial downturns on small island states like Anguilla or the diminishing state of the local domestic fiscal and economic situation itself. But the downturn of the economy on the home front does not necessarily remain forever and so one takes comfort in the rallying cry we sometimes hear among our people: “Anguilla will rise again.”
Admittedly, there is a high measure of disappointment that it has taken so long for our island to rise again with the realisation of a number of promised projects. At the same time, however, there is the painful reality that the prosperity we so eager look forward to cannot manifest itself overnight. There are such hurdles like careful planning and negotiation, due diligence, procurement, and other precautionary measures to be considered. Investor confidence is something else that must be taken into account at both sides of the bargaining table, among other careful considerations and guarantees.
A few months ago, a number of potential investors, from as far away as Dubai, in the Arab Emirates, toured various areas of Anguilla including active, incomplete or failed projects, with a desire to enter into some form of possible investment opportunities and partnerships. Very little, if anything, has been heard about them or their interest to date. However, it was just on Tuesday, this week, that the Chief Minister and Minister of Finance, Economic Development and Tourism, announced that there were some other investors on the island interested in a cruise ship facility and hotel project in the Forest Bay area. We are mindful of the fact that there has been much talk about the Conch Bay Development Project in that area in the past, and wonder whether the recent investors are the same persons who were associated with that proposed project and have resurfaced or, in fact, are new developers. Whoever they are, it does not really matter as long as they mean business and ‘can put their money where their mouth is’, to use a colloquial expression. Such a project would open some wide doors in tourism promotion for Anguilla and a well-deserved entry into the cruise ship side of the hospitality industry – not to mention the potential contribution of the other areas of the proposed project in terms of tourist accommodation and probably airport development.
Then, we are hearing about the long-awaited consummation of the Cap Juluca ownership agreement; the hope for stabilisation of the resort in terms of operations; management and staff employment; and the possible expansion of the property – long regarded as the “flagship of Anguilla.” It is also a matter of pride that the world-renowned Four Seasons Resort and Residences have come to our shores. We must be grateful for all of these, and other positives, which are helping to herald that it is time for new investment and development in Anguilla.
